Arizona Small Business Boot Camp Session 182: Employee Retention Credit: Are You Missing Out?

The Employee Retention Credit (ERC) is a refundable payroll tax credit available to eligible employers in 2020 and 2021. Eligibility is determined with one of two tests: a full or partial shutdown or a gross receipts test. The credit is up to $5,000 per employee in 2020 and up to $7,000 per employee per eligible quarter in 2021. The credit can be claimed retroactively through amended Form 941s. This session will explain the eligibility requirements as well as how the ERC interacts with other government programs like FFCRA, WOTC, PPP, SVOG and RRF.